vivo will merge iQOO into its core business to cut costs
It’s not uncommon these days to read about tech companies implementing cost-cutting measures these days and vivo is the latest company to move in that direction. The company has just announced that it is merging its iQOO sub-brand into its core business to reduce operating costs and increase efficiency. Which is basically another way of saying that the company is laying off some of its staff.
It’s no secret that vivo and iQOO share R&D, supply chain, and just about every resource except for some marketing and distribution channels. iQOO smartphones even run the same software as vivo phones. However, e-commerce strategies, planning, and media targeting were separate units at this point.
This new move will turn iQOO into just a regular line within vivo’s portfolio. vivo’s management is also reportedly considering closing iQOO’s independent stores and counters.
Source (in Chinese)
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